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Gold Futures Rise; Further Gains for Gold Predicted says Pan American Metals of Miami | |
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November 12, 2011 Gold futures rose 1.6% today based on a weaker dollar and buying from bargain hunters. MIAMI, FL - Deutsche Bank also predicted further gains in the price of gold in the near future, suggesting that the present trend for central banks to buy gold bullion is contributing to its rise. The central banks of many emerging economies have been stockpiling gold in recent months, further weakening people's faith in paper currencies. As the European crisis plays out, the focus remains on Italy but there are rumors that provision might be made for some countries to leave the euro zone, a once unthinkable situation. At this point the rumors have not been substantiated, entry into the euro zone is supposedly irrevocable; nevertheless, the ongoing crisis has caused people to distrust the currency. Meanwhile, while the dollar still retains a strong attraction as a safe haven, its value fluctuates daily and many people feel that - should there be further quantitative easing from the Federal Reserve - it could be devalued further. "Fiat currencies, as their name suggests, are based on faith, faith in the governments backing them," says Bill Hionas of Pan American Metals of Miami. "However, that faith is waning fast and people are looking to the intrinsic value offered by precious metals bullion, especially gold, for wealth protection." Market analysts continue to forecast a rise to $2000 an ounce for gold, if not by the end of this year, then by the first quarter of 2012. About us: Pan American Metals of Miami, LLC is a group of traders, investors and account executives that combines many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors. Website: http://www.panamericanmetalsofmiami.com Press Contact Debbie Bailey Executive Administrator Pan American Metals of Miami, LLC Email: dbailey@investpanam.com Website: http://www.panamericanmetalsofmiami.com Source: http://www.1888pressrelease.com/gold-futures-rise-further-gains-for-gold-predicted-says-pan-pr-349685.html |
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